DAX 2022 Week 3 Trading Plan

15 Jan DAX 2022 Week 3 Trading Plan

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This is my week­ly out­look on DAX. The lev­els that I will be look­ing at with a high­er prob­a­bilis­tic chance the mar­ket will start react­ing. Dur­ing the ses­sion I then wait for the mar­ket to hit those lev­els and either con­firm or reject my bias through price action con­fir­ma­tion and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to peo­ple that are on the same path as me. So don’t be shy and reach out. 

Month­ly — Neutral

• Weak MN Bull Engulf not con­fi­dent­ly clear­ing the for­ma­tion thus a pos­si­ble con­sol­i­da­tion con­sid­er­ing the time of year as well
• Price is trad­ing above body and broke the range almost tak­ing out supply

Week­ly — Neutral

• Price did close high­er although neu­tral and is still trad­ing between W1 sup­ply and demand
• W1 Sup­ply test­ed twice
• W1 demand test­ed numer­ous times
• Price equal­ly react­ed off new­ly formed W1 C‑Dem RBR as well as W1 C‑sup

Dai­ly — Bearish

• D1 Bear Engulf clos­ing below D1 QHi 
• Fol­lowed by D1 Ham­mer (longer buy­ing wick fail­ing to close with­in D1 C‑Dem BE)
• Pos­si­ble D1 Phase 1 / 3

Sen­ti­ment sum­ma­ry — Neutral

• Pos­si­ble MN con­sol­i­da­tion although price did close high­er and has bro­ken the range indi­cat­ing there are still buy­ers around
• Week­ly range get­ting tighter, in line with the time of year, clos­ing high­er but still neu­tral. Need more infor­ma­tion. For now, price is trad­ing with­in a range.
• D1 closed below D1 QHi tech­ni­cal­ly reject­ing swing high. Although price failed to close with­in recent­ly formed D1 demand just below. Fri­day clos­ing as a Ham­mer could see either a con­tin­u­a­tion or a reversal. 

Addi­tion­al notes

• Jan­u­ary there is a lack of activ­i­ty espe­cial­ly in the equi­ties mar­kets so watch out for too tight ranges
• Pos­si­bly con­sid­er not trading

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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